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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2024
Sep. 24, 2023
Cash flows from operating activities:    
Net income $ 851,451 $ 188,106
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 321,768 307,414
Deferred income tax expense (benefit) 45,220 (46,808)
Asset impairment 26,633 4,011
Gain on early extinguishment of debt recognized as a component of interest expense (11,211) 0
Stock-based compensation 9,205 5,236
Loan cost amortization 3,798 6,059
Accretion of discount related to Senior Notes 1,898 1,581
Loss (gain) on property disposals 1,104 (8,416)
Loss (gain) on equity-method investments (6) 330
Changes in operating assets and liabilities:    
Trade accounts and other receivables 62,646 (65,183)
Inventories 172,990 (12,957)
Prepaid expenses and other current assets (65,555) (8,039)
Accounts payable, accrued expenses and other current liabilities 79,672 12,224
Income taxes 151,902 40,463
Long-term pension and other postretirement obligations 13,135 (1,700)
Other operating assets and liabilities (23,858) (22,723)
Cash provided by operating activities 1,640,792 399,598
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (316,949) (432,339)
Proceeds from property disposals 9,724 17,188
Proceeds from insurance recoveries 0 20,681
Cash used in investing activities (307,225) (394,470)
Cash flows from financing activities:    
Payments on revolving line of credit, long-term borrowings and finance lease obligations (151,671) (765,899)
Proceeds from revolving line of credit and long-term borrowings 0 1,278,032
Proceeds from contribution (payment of distribution) of capital under Tax Sharing Agreement between JBS USA Holdings and Pilgrim’s Pride Corporation 1,425 (1,592)
Payments on early extinguishment of debt (200) 0
Payments of capitalized loan costs (16) (10,275)
Cash provided by (used in) financing activities (150,462) 500,266
Effect of exchange rate changes on cash and cash equivalents (29,916) (1,036)
Increase in cash, cash equivalents, restricted cash and restricted cash equivalents 1,153,189 504,358
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period 731,223 434,759
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period $ 1,884,412 $ 939,117